We then apply a multiplier, which depends on the industry, competitive profile, length of time in business and several other factors. 

Loans are not factored in. 

Or maybe some other factor that I haven’t thought of?

Could you go in more depth in regards to the FHA sustainability factor?

Now, just because you may be doing well and be biased for your area and investment properties, I'm interested to play devils advocate and hear why these factors may not sustain themselves and why they could.

DTI is not a factor with commercial lending.  

Thanks for all the information.If this is primary residence, your capital gain will be exempt under sec 121 if you meet the requirements.If not, debt is not factored in when determining your taxes.  

Economists credit a mix of factors including ultra-low mortgage rates, increasing demand for space, and an emerging home-buying demographic: millennials.

A couple of factors are at play.First, rents trail purchases because it's a less efficient market. 

I don't think most people are ever exposed to investing.